California home sales leap 64% in March

Home sales in California increased almost 64% last month from a year ago, thanks in large part to falling prices. Statewide, the median price tumbled 39% from March 2008, although values rose slightly from February.

All regions in the state experienced increases in month-to-month sales, with the smallest gain being 9.7% in Sacramento and the greatest at 32.2% in Riverside/San Bernardino, the California Association of Realtors reported.

Fresno County reported a 23.3% boost in sales from February to March.

Statewide, prices edged up 2.2% in March from February. In Fresno County, the increase was 9.6%.

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That was the first price gain in California since August 2007, but association economist Leslie Appleton-Young said it’s too early to declare price stabilization.MDA DataQuick released March median prices for central California cities (percentage decrease from March 2008 in parentheses):

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